Stamp duty value on agreement date may be considered under Section 56(2)(x)

Javidbhai Ahemadbhai Mansuri Vs ITO (ITAT Ahmedabad) According to ITAT, for property transactions, the stamp duty value on the date of the agreement may be considered under Section 56(2)(x) if part of the payment is made through banking channels at that time, preventing unnecessary tax on the difference between stamp duty and consideration. The Income Tax Appellate Tribunal (ITAT), Ahmedabad, in the case of Javidbhai Ahemadbhai Mansuri Vs ITO, allowed the appeal of the assessee, effectively deleting an addition of Rs. 73,66,836 made by the Assessing Officer (AO) under Section 56(2)(x)(b) of...